This milestone will be remembered as "2021".
Bitcoin Boom
The New York Stock Exchange will allow traders to place bets on Bitcoin in what could be the biggest step cryptocurrency has made towards mainstream status in its decade-long history.
According to Michael Sapir, ProShares CEO, 2021 will be remembered because of this milestone. He also made fun of less-regulated crypto exchanges by telling the New York Times that investors want easy access to Bitcoin in a wrapper with market integrity.
Fine Print
Although the fund will not allow anyone to trade Bitcoin directly, it will offer a way to bet the futures of digital currency, allowing investors to speculate on how Bitcoin will perform.
This is a significant step towards mainstream adoption and has solid support from federal regulators. However, the NYT reports that crypto-deads still want to trade blockchain assets directly on New York Stock Exchange.
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Price Spike
Bitcoin's early ideas were closely tied to the ability to move money without the large financial institutions that were connected to the 2008 financial crash. Bitcoin has become more intertwined than ever with these same institutions.
Investors have dollars signs, but that doesn't make it any less important. Bitcoins imminent debut on the Stock Exchange could be responsible for Bitcoins recent spike in price. It is not clear what will happen next.
READ MORE: Bitcoin comes to the Big Board [The New York Times]
Additional information on Bitcoin: Harvard Professor: The Long-Term Price of Bitcoin will Collapse
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